The Santa Barbara Unified School District announced this week that the district ended the 2021-2022 school year with a $7.1 million surplus, which will be sent to the district’s reserves.
The announcement was made following a special budget study session on Tuesday held by the district’s Board of Trustees. These sessions are held to review where the district’s funding is coming from, as well as where and how the funds are utilized.
The surplus represents approximately 3.3% of the district’s $210 million budget for the previous school year. When added to existing reserves, the surplus allowed the district to maintain 10% of its budgetary needs in reserves as stipulated by Board Policy 3100.
“Sustaining a balanced and responsible budget is essential to everything we do at Santa Barbara Unified,” Dr. Hilda Maldonado, the district’s superintendent, said in a news release. “We thank everyone who attended Tuesday’s meeting for providing feedback as we continue to make sure funds are used to support every child in our district,”
The district’s next budget discussion will take place Dec. 12 during the district’s regularly scheduled meeting of the Board of Trustees, and will cover the first interim review of the 2022 – 2023 school year.